OpenSwap grants you the ability to compound your $ONE rewards directly into an OpenX LP and have it staked automatically! This exact process will happen several times a day.
Let’s dive into the details. Our smart contracts will take 50% of the $ONE rewards generated and market purchase $OpenX. The smart contracts then use the other 50% of your $ONE rewards and purchase a token the end user selected on OpenSwap. The two tokens will be used to create LP tokens and automatically staked on the OpenSwap farm. That is a lot work from some amazing smart contracts! Please note, when rewards are distributed and automatically staked on your address, the site will collect any OpenX rewards earned from farming that specific LP farm. Those rewards are collected and placed in your wallet.
You must be a delegator to the OpenSwap validator. The OpenX Auto-Compound 20% APY node validator is the only Harmony validator that allows you to auto-compound your rewards directing into staked LP farms. You can stake your $ONE tokens on the harmony staking site or through OpenSwap.
STEP 1: Go to Openswap.one STEP 2: Click on ‘Farm’ in the menu STEP 3: Click ‘Details’ on the ‘OpenX Auto-Compound 20% APY Validator’ STEP 4: Click ‘Settings’ STEP 5: Under the ‘Set Compounding Farm’ area, find the farm you would like to have your rewards converted into and click ‘Select’ STEP 6: A popup will appear from the wallet. Enter any security information required. Click ‘Approve’ STEP 7: Click ‘Confirm and Sign’
To change the current LP you are auto-compounding into is rather simple. Navigate to the OpenX Node 20% APY validator in the OpenSwap farm. Under the settings area, click the ‘Select’ button for the new OpenX LP you would like to receive.
If you determine you no longer want to auto-compound your rewards, click the ‘Reset’ button across from the ‘Set Compounding Farm’
The following liquidity pools are available for auto compounding: OpenX / ONE OpenX / BUSD OpenX / MATIC OpenX / BNB OpenX / ADA
This is just the beginning; additional pools will be added in the future.
Rewards can be set to a different address than the delegator address. To do this, just enter in the ETH wallet address and click set.